CMC Markets (LSE:CMCX) EBIT: £104.3 Mil (TTM As of Mar. 2026)


LSE:CMCX CMC Markets PLC LSE:CMCX
76 GF Score
Price £4.48
GF Value £2.79
Valuation Significantly Overvalued
! 8 Warning Signs
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What is CMC Markets EBIT?

CMC Markets LSE:CMCX -0.44% 76 EBIT is £104.3 Mil as of Mar. 2026. GuruFocus rates LSE:CMCX with a GF Score™ of 76/100 and a GF Value™ of £2.79 (Significantly Overvalued). The stock has 8 warning signs investors should review.

CMC Markets's earnings before interest and taxes (EBIT) for the six months ended in Mar. 2026 was £53.8 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was £104.3 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CMC Markets's annualized ROC % for the quarter that ended in Mar. 2026 was 35.66%. CMC Markets's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 373.96%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. CMC Markets's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 11.29%.


CMC Markets  (LSE:CMCX) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

CMC Markets's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=115.272 * ( 1 - 26.95% )/( (217.117 + 255.174)/ 2 )
=84.206196/236.1455
=35.66 %

where

Invested Capital(Q: Sep. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=767.46 - 262.117 - ( 288.226 - max(0, 319.055 - 676.743+288.226))
=217.117

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1006.865 - 358.006 - ( 395.905 - max(0, 522.221 - 915.906+395.905))
=255.174

Note: The Operating Income data used here is two times the semi-annual (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

CMC Markets's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=107.664/( ( (29.175 + max(-102.147, 0)) + (28.406 + max(-212.946, 0)) )/ 2 )
=107.664/( ( 29.175 + 28.406 )/ 2 )
=107.664/28.7905
=373.96 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(153.269 + 0 + 59.713) - (262.117 + 0 + 53.012)
=-102.147

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(149.021 + 0 + 65.006) - (358.006 + 0 + 68.967)
=-212.946

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

CMC Markets's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=104.33/923.845
=11.29 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


CMC Markets EBIT Related Terms


CMC Markets EBIT Historical Data

* Premium members only.

The historical data trend for CMC Markets's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

CMC Markets EBIT Chart

CMC Markets Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 93.63 54.48 65.28 86.36 104.33

CMC Markets Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 66.40 50.94 35.42 50.50 53.83

LSE:CMCX vs MS, GS, SCHW: EBIT Comparison

For the Capital Markets subindustry, CMC Markets's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


CMC Markets EV-to-EBIT vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, CMC Markets's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where CMC Markets's EV-to-EBIT falls into.


LSE:CMCX
76GF Score
CMC Markets PLC LSE:CMCX
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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CMC Markets EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was £104.3 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of £104.3 Mil mean?
CMC Markets (LSE:CMCX) has a EBIT of £104.3 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on CMC Markets.
Is CMC Markets' EBIT too high?
CMC Markets' current EBIT is £104.3 Mil. Overall, CMC Markets has a GF Score™ of 76/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CMC Markets' EBIT compare to MS and GS?
CMC Markets' EBIT of £104.3 Mil can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Capital Markets company?
A good EBIT depends on the Capital Markets industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on CMC Markets. CMC Markets's current EBIT is £104.3 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CMC Markets stock overvalued right now?
Based on GuruFocus' analysis, CMC Markets (LSE:CMCX) is currently considered Significantly Overvalued. The stock's GF Value™ is £2.79, compared to a current price of £4.48 — trading 60.4% above its estimated fair value. The current EBIT is £104.3 Mil. CMC Markets' overall GF Score™ is 76/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For CMC Markets (LSE:CMCX), the current EBIT is £104.3 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is CMC Markets (LSE:CMCX) Overvalued in 2026?

Based on GuruFocus' analysis, CMC Markets stock appears to be overvalued. The current stock price of £4.48 is trading 60.4% above its estimated GF Value™ of £2.79. GuruFocus considers CMC Markets to be Significantly Overvalued.

Key valuation signals for LSE:CMCX:

  • EBIT: £104.3 Mil
  • GF Value™: £2.79 vs. price of £4.48 (60.4% above fair value)
  • GF Score™: 76/100 with 8 warning signs

No single metric tells the full story. See the LSE:CMCX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CMC Markets Business Description

Other Exchanges CMCXl:UKT8Q:Germany
Address 133 Houndsditch, London, GBR, EC3A 7BX
CMC Markets PLC is a United Kingdom-based company that provides an online platform for trading and investing, with a comprehensive retail, professional, and institutional offering. The Group's business consists of two segments, Trading and Investing. The majority of its revenue is generated from the Trading segment, whose core business involves online trading, enabling clients to trade a broad array of financial instruments for short-term investment and hedging purposes. Additionally, the trading segment includes the Treasury Management and Capital Markets Division that invests surplus liquidity to enhance yield. The Investing segment supports clients longer-term investment goals. The group offers online stockbroking services in Australia, the UK, the USA, and Singapore.
76GF Score

Get the complete analysis for LSE:CMCX

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

£4.48
Price
£2.79
GF Value